Excel Applications for Accounting Principles
4th Edition
ISBN: 9781111581565
Author: Gaylord N. Smith
Publisher: Cengage Learning
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Chapter 17, Problem 3R
Now that your worksheet has been saved as JOB2, fill in the appropriate data for Job 8961. Save the results as JOB8961 and print the completed
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Job-order Costing System Activities
Activity 1:
The following information is for GANA Company that uses the job-order costing technique for
determining cost of sales. The following data is obtained from its records for the year ended 31 st
December 2020.
Particular
BD.
Direct materials
8000
Direct labour
5000
Factory overheads
12500
Administrative overheads
3500
Selling and Distribution overheads
4500
Profit on cost
10%
You are required to:
1- Prepare a Job cost sheet indicating prime cost, work cost, production cost, cost of sales and sales
value.
Job 113 was completed at a cost of $4,800, and Job 85 was completed at a cost of $3,300 and sold on account for $4,500. Prepare journal entries for the following: If an amount box does not require an entry, leave it blank.
A. Completion of Job 113.
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fill in the blank ec5974fe0f8f04b_3
fill in the blank ec5974fe0f8f04b_5
fill in the blank ec5974fe0f8f04b_6
B. Completion and sale of Job 85.
fill in the blank ac9efe072f91fff_2
fill in the blank ac9efe072f91fff_3
fill in the blank ac9efe072f91fff_5
fill in the blank ac9efe072f91fff_6
fill in the blank ac9efe072f91fff_8
fill in the blank ac9efe072f91fff_9
fill in the blank ac9efe072f91fff_11
fill in the blank ac9efe072f91fff_12
fill in the blank ac9efe072f91fff_14
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fill in the blank ac9efe072f91fff_17
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Hello, I am doing a job order costing project for accounting. I havent picked any specific numbers yet. I am just getting started on the project and watned to know what meeting specs are? If you could give me an example that would be great. Thank you
Chapter 17 Solutions
Excel Applications for Accounting Principles
Ch. 17 - Nutt Products manufactures screws and bolts made...Ch. 17 - Prob. 2RCh. 17 - Now that your worksheet has been saved as JOB2,...Ch. 17 - Next, open worksheet JOB2 again. Enter the data...Ch. 17 - Use the space provided below to prepare six...Ch. 17 - Nutts management is very concerned about the cost...
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- please explain in steps, thanksarrow_forwardClemens Cars' job cost sheet for Job A40 shows that the cost to add security features to a car was $15,500. The car was delivered to the customer, who paid $20,200 in cash for the added features. What journal entries should Clemens record for the completion and delivery of Job A40? View transaction list Journal entry worksheet < 1 2 3 Record transfer of cost of completed job to Finished Goods. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journalarrow_forwardCost Flows Consider the following independent jobs. Overhead is applied in Department 1 at the rate of $6 per direct labor hour. Overhead is applied in Department 2 at the rate of $8 per machine hour. Direct labor wages average $10 per hour in each department. Required: Fill in the missing data for each job. If an amount box does not require an entry, leave it blank or enter zero ("0"). If required, round your answers to two decimal places. Job 213 Job 214 Job 217 Job 225 Total sales revenue $fill in the blank 1 $4,375 $5,600 $1,150 Price per unit $12 $fill in the blank 2 $14 $5 Materials used in production $365 $fill in the blank 3 $488 $207 Department 1, direct labor cost $fill in the blank 4 $700 $2,000 $230 Department 1, machine hours 15 35 50 12 Department 2, direct labor cost $50 $100 $fill in the blank 5 $0 Department 2, machine hours 25 50 fill in the blank 6 fill in the blank 7 Department 1, overhead applied $90 $fill in the blank 8 $1,200 $138…arrow_forward
- The company uses ABC and has determined the following activities, cost drivers and activity rates Activity Center Activity Driver Activity rate Direct labor usage Direct labor hours $3 per DL hrMachine usage Machine hours $8 per machine hrMachine setups Setups $200 per set up Design changes Design changes $400 per design change You have completed Job 101. Determine the cost of Job 101, if the job required $1,000 in Direct Material, $3,000 in Direct Labor, 500 direct labor hours, 75 machine hours, 2 setups and 1 design change.arrow_forwardHaywood Printing is processing a job with the following activity rates: Activity Cost Driver Driver Rate Direct labor Number of hours $8 Copying Number of copies $0.05 If this job requires 5 hours for 1,000 copies, what is the activity-based cost of the job?arrow_forwardAuto Safe's job cost sheet for Job A40 shows that the total cost to add security features to a car was $11,500. The car was delivered to the customer, who paid $16,200 cash for this job. Prepare the journal entries for Job A40 to record (a) its completion and (b) its sale. View transaction list Journal entry worksheet < 1 2 Record transfer of cost of completed job to Finished Goods. Transaction 3 Note: Enter debits before credits. Record entry General Journal Clear entry Debit Credit View general journalarrow_forward
- I am working on T accounts for the Polaris Company using a job-cost order and I am stuck on this attached problem. Can you show me how to find the missed problems. Thank you.arrow_forwardDirections: Answer the following questions by the due date. Use numerical calculations (if needed) to support your argument. Submit your answers through uploading a Microsoft Word file, Excel file or PDF. Tread-Force Fitness, Inc. assembles and sells elliptical machines. All activity costs are related to labor. Management must remove $2.00 of activity cost from the product in order for it to remain competitive. Activity-based product information for each elliptical machine is as follows: (Hrs per unit) Activity Activity Based Usage x Activity rate / hr = Activity Cost Moving 0.20 $15 $3.00 Motor Assembly 1.50 $20 $30.00 Final Assembly…arrow_forwardkk.arrow_forward
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